EURUSD - Weekly Strategy (04-08 Feb 2013)

Pivot: 1.3585

Recommendation: LONG positions above 1.3585 with 1.3790 & 1.3850 as next targets.
Alternative scenario: The downside breakout of 1.3585 will call for a rebound to 1.3540/414
Comment: The strong bullish rally continued last week to 1.3711 levels, break of 1.3711 will send the pair further higher towards 1.3790/1.3850 levels, above 1.3850 will target the psychological level 1.4000.On the downside, below 1.3585 will bring some consolidation but any down move below 1.3585 is supposed to be contained well above the key support 1.3414 and bring another rally to 1.3700 levels.

Best Regards

Haitham

Views: 3913

Tags: EUR/USD, EURUSD

Comment by Bero maatouk on February 2, 2013 at 8:33pm

haitham plz can you tell me which indicators do u use ?

like this one above in the chart ?

thank you

Comment by Bero maatouk on February 2, 2013 at 9:35pm

or if you can give me the best indicators to trade with ?

do you put a specific  indicator for each timeframe ?

Comment by Haitham653 on February 3, 2013 at 3:23am

Hi Bero...

If you mean %(R), It's Williams' percent range indicator, I think it's available in all trading platforms..

About time frames , I use the same indicators for all time frames....

Which indicator is the best, I don't know how to answer such a question, it  depends on you, or on the strategy you use but overall there's few good indicators such as RSI and Macd...

Comment by TONY on February 3, 2013 at 3:53am
Hi Haitham. Any posting on USD/CHF coming from you ?
I was wondering have this pair seen the bottom @ .9025 or can go further down ?
Regards, Tony
Comment by Bero maatouk on February 3, 2013 at 8:45am

ah yes haitham that's what i wanted to know %(R) =williams percent range okiiii and the rest of indicators i'll keep them in my daily work :)

thanx my friend for ur reply and ur advice you are trully an awesome man

best regards

Bero

Comment by Samuel Sam on February 3, 2013 at 12:30pm

Thanks Haitham, please is it for long time trade?

Comment by Haitham653 on February 3, 2013 at 12:58pm

Hi Samuel ..

It depends on market move next week, most likely it will work for 1 or 2 weeks at least !! may be more!!!

Comment by Haitham653 on February 3, 2013 at 1:29pm

by the way, the daily chart shows possible weakness the next coming days, the pair needs to break above 1.3711 at least on the daily chart to advance the pair to 1.4000 levels..

However, the market may test 1.3710 levels tonight , If the pair's rejected , expect another dip to 1.3585, If 1.3585 fails, a correction will be on the horizon to 1.3540/1.3413 levels, If seen , then we need to evaluate pair's activities on the 1 hour and the 4 hour chart around 1.3540/1.3413 anticipating rebound to enter long with target around 1.3640 levels...

Remember, If 1.3585 holds, it should surpass 1.3710....

Comment by Samuel Sam on February 3, 2013 at 1:35pm

Thanks very much Haithman, it's advisable to go in for short position... wit 1.35850 as Sup. n 1.37110 as the Res.

Comment by Florence Lery on February 3, 2013 at 4:54pm

Hi - e/u might go to 3750 before reversing - with NFP resutls - e/u uptrend might take a rest for a while...just a thought

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